Tag Archives: Japan

Japan PM wraps up Africa meet with debt warning aimed at China

Japan PM wraps up Africa meet with debt warning aimed at ChinaInvestors in Africa must beware of burdening countries with “excessive” debt, Japan’s prime minister warned Friday, an apparent swipe at China whose Belt and Road policy has been accused of saddling poor nations with crippling debt. Speaking to reporters at the end of an African development conference outside Tokyo, Shinzo Abe emphasised that countries in the G20 group of top economies, including China, had committed to the concept of “debt sustainability”. “In providing assistance to Africa, we have to take note of the debt burden of the recipient country and take care that the debt burden does not become excessive,” Abe said when asked about China’s influence in Africa.



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US approves $3.3bn sale of anti-ballistic missiles to Japan

US approves $  3.3bn sale of anti-ballistic missiles to JapanWashington approved the $ 3.3 billion sale of anti-ballistic missiles to Japan Tuesday, following close behind a series of new ballistic missile tests by North Korea that could threaten the US ally. Japan will buy up to 73 of the Raytheon-made SM-3 Block IIA missiles, which are designed to be fired by the ship-board Aegis system to intercept incoming ballistic missiles, the Pentagon said. The sale came as North Korea is expanding its offensive missile capabilities, having proven over the past two years the ability to launch medium- and long-range ballistic missiles, potentially nuclear-tipped, that could hit both Japan and the United States.



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Norway, Finland and Japan Lead In Clean Energy Innovation

Norway, Finland and Japan Lead In Clean Energy InnovationFossil fuel still supplies around an estimated 80% of the global energy needs, yet in order to ensure successfully reaching goals to slow climate change, nations will need to expand access to clean energy. New research shows that not all countries are performing equally in this fight, with Scandinavian countries and Japan showing the most progress. The top performing country in the world in the field of contributions to global clean energy innovation is Norway, followed closely by Finland and Japan, according to a recent report published by the Information Technology and Innovation Foundation, a nonprofit public policy think tank based in Washington, D.C.



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South Korea begins annual war games to defend against Japan

South Korea begins annual war games to defend against JapanSouth Korea Sunday began two days of war games to practise defending disputed islands off its east coast against an unlikely attack from Japan, further stoking tensions between the Asian neighbours. The annual drills come just days after Seoul terminated a military intelligence-sharing pact with Tokyo, with the countries at loggerheads over Japan’s use of forced labour during World War II. The two-day exercise will involve warships and aircraft, the South Korean navy said in a text message without providing more detail.



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Japan, U.S. reach framework trade pact, no tariff cuts on Japan cars – Nikkei

Japan, U.S. reach framework trade pact, no tariff cuts on Japan cars - NikkeiThe United States and Japan have reached the broad framework of a trade agreement, with Washington maintaining tariffs on Japanese autos but Tokyo cutting tariffs on U.S. beef and pork, Japan’s Nikkei business daily said on Saturday. U.S. Trade Representative Robert Lighthizer and Economy Minister Toshimitsu Motegi reached the deal on Friday in Washington, and it will be announced at a meeting of President Donald Trump and Prime Minister Shinzo Abe expected on Sunday on the sidelines of the Group of Seven summit in Biarritz, France, the newspaper said. The report comes shortly after Motegi told reporters in Washington that he and Lighthizer had made “big progress” in their talks.



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The Latest: Japan 'deeply concerned' about Hong Kong

The Latest: Japan 'deeply concerned' about Hong  Kong



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Playing god: Japan temple puts faith in robot priest

Playing god: Japan temple puts faith in robot priestThe android Kannon, based on the Buddhist deity of mercy, preaches sermons at Kodaiji temple in Kyoto, and its human colleagues predict that with artificial intelligence it could one day acquire unlimited wisdom. “This robot will never die, it will just keep updating itself and evolving,” priest Tensho Goto told AFP. It’s changing Buddhism,” added Goto.



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South Korea Moves to Downgrade Japan Trade Ties, Seeks Talks

South Korea Moves to Downgrade Japan Trade Ties, Seeks Talks(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. South Korea moved to downgrade Japan from its list of most trusted trading partners while also seeking talks to end a months-long spat that has hurt economic ties between the two American allies.South Korea plans to split its fast-track category into two and initially put Japan as the only country in the second one, the Ministry of Trade, Industry and Energy said Monday. The move comes less than two weeks after Japan removed South Korea from its list of “white nations” considered safe enough to export strategic materials to.South Korean President Moon Jae-in demanded last week Japan reconsider its decision, warning there are no “winners in this game.”The dispute has undermined the economic outlook of South Korea, which is already struggling to cope with the U.S.-China trade war. Companies in South Korea need materials from Japan to produce memory chips and displays.Big trade deficit“It’s symbolic, given the importance of South Korean products in Japan’s industries is small,” said Oh Tae-heon, an economist who teaches Japan studies at Kyung Hee Cyber University in Seoul. “It won’t create the kind of urgency in Japan that South Korea felt when exports of semiconductor materials were curbed.”South Korea’s trade deficit with Japan was $ 24 billion in 2018, the biggest among more than 250 trade partners, according to the Korea International Trade Association.Industry Minister Sung Yun-mo told reporters Monday in a briefing that South Korea was ready to agree to talks with Japan during its 20-day review period before the new designation takes effect in September.Currently 29 nations are in South Korea’s “Ga” list of most trusted trading partners for strategic materials, while all other countries belong to the other “Na” category, according to the trade ministry’s website.Machine tools, chemicals and stainless steel are among the types of products that South Korea’s ministry has listed on its website as subject to the export controls.Japan would be placed in the new “Ga2” category and treated “in principle” in the same way as countries in the “Na” category, the ministry said in an emailed statement.(Updates with comment from economist in fifth paragraph.)To contact the reporter on this story: Sam Kim in Seoul at skim609@bloomberg.netTo contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Peter Pae, Daniel Ten KateFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



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South Korean cosmetics firm boss quits over YouTube praising Japan

South Korean cosmetics firm boss quits over YouTube praising JapanThe head of a major South Korean cosmetics firm resigned Sunday after facing heavy backlash for forcing his staff to watch a YouTube video praising Japan during a raging trade war between the two nations. The clip, played at a monthly meeting of some 700 employees of Kolmar Korea last week, slams President Moon Jae-in’s response to Japan’s trade regulations and praises Prime Minister Shinzo Abe for “not punching Moon in the face”. The video also refers to Venezuela’s crippling economy, where “women are going into prostitution for mere seven dollars”, and adds that South Korea is not far from meeting a similar fate.



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Exiled Thai critic attacked with chemicals in Japan

Exiled Thai critic attacked with chemicals in JapanAn exiled Thai critic of the country’s military and monarchy said he was attacked in his home in Japan last month and believes Thai authorities were behind the incident, an accusation that was ridiculed by the kingdom’s army chief. Pavin Chachavalpongpun, a 48-year-old associate professor at Kyoto University, said he was asleep with his partner when a man broke into their home last month at about 4 a.m. and sprayed the couple with a substance that burned their skin. Neither was seriously hurt, but Pavin said they have been told by police not to return home.



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